ETH, SOL, and DOGE drop 7%, with $850 millions in bullish bets ultimately liquidated.

According to CoinWorld, the cryptocurrency market continued its downward trend over the weekend, with approximately $974 million liquidated within 24 hours, forcing more than 240,000 traders to close their positions. Ethereum was hit the hardest, with liquidation amounts reaching about $385 million, followed closely by Bitcoin with $188 million, the vast majority of which were forced liquidations from long positions. Solana and XRP both saw liquidation amounts exceeding $45 million. This sell-off also affected tokenized commodities such as silver, indicating that cryptocurrency trading platforms play a macro trading channel role when the market is under pressure.